After hours Tungsten (TUNG) responded to a dramatic fall in its share price with a statement that was so weedy that it almost makes me tempted to go short, something I have not done before. If this was aimed at getting punters to buy the shares it failed. CEO and AIM entrepreneur of the year 2014 (another reason to short) Edmund Truell still has serious questions to answer.
Quite pointedly he knows that Matt Earl’s analysis HERE and HERE has spooked investors but has not answered his points made by the Dark Destroyer.
The company had c£27 million of cash as at October 31 but seems to be happily burning c£2.5 million a month. Now I refer you to the statement and the underline is mine:
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